Description
Foodlocker is a farm produce and consumer goods aggregator for wholesale and retail buyers that use data science and demand-matching technologies to ensure that smallholder farmers can produce efficiently and secure a guaranteed market.
Market Opportunity/ Problem
Over 33 million smallholder farmers across the African continent struggle to find markets for their products despite the existence of a US$27 billion market opportunity from large buyers in Africa. Smallholder farmers hardly have sufficient capacity to meet the needs of large buyers and often struggle to find inputs, capital, storage, logistics, and scientific production methods.
Company Information
Years of operation
3
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Enabling (Digital agriculture/aggregation platforms)
Agriculture value chain(s) focus?
Food crops
Primary country of operation
Nigeria
Other country(ies) of operation
N/A
How many employees does your business have?
20
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
No
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
>1m
What is the split between equity and debt?
55% equity, 45% debt